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European equities edge up, Atlantia pushes Italian stocks lower

European stocks moved in positive territory on Thursday after China promised it would hold trade negotations with the U.S. this in late August, boosting a risk appetite recovery, although Italian shares dropped steeply as Atlantia slid.

Photo: Reuters

The pan-European STOXX 600 advanced 0.2 percent, reversing some of Wednesday’s declines which had pushed it to a six-week trough as emerging markets traded in negative territory.

Italy's FTSE MIB dipped 1.6 percent to its trough since April 2017 as shares of motorway operator Atlantia slumped 25 percent. The UK’s FTSE 100 surged 0.5 percent to 7,532.

Overall, mining sector led the rise, climbing 1.2 percent after suffering their worst session since the Brexit referendum on Wednesday when metals prices dropped.

Investors were assessing the risks from Turkey and a broader emerging markets collapse.

Wirecard soared 9 percent after the electronic payments company upgraded its 2018 profits outlook.

Germany-based consumer products company Henkel sank 3.2 percent after downgrading its profit forecast due to sliding EM currencies and higher prices for primary commodities.

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